Recycled diamond company offers to buy old diamonds which it re-sells.
WP Diamonds, a branch of White Pine Trading, has launched as a company recovering gems from second-hand or scrap jewellery, has opened a UK-focused trading platform, offering to buy diamonds directly from consumers.
The site will be based on a postal purchasing service, and has been launched in reaction to “the growing online market for the purchase of diamonds directly from the public in the United Kingdom”.
Tim Phillips, White Pine’s director of European operations, said: “[The White Pine UK site] adds to our increasing investment online and we can offer customers industry leading capabilities, competence and excellent prices.
“The site is designed to attract individuals that want to release cash from their assets and we offer a quick and trustworthy service.”
Customers interested in selling their diamonds can obtain a free valuation from the company by filling in an online form.
Its UK operations are based in Birmingham and will be the headquarters for any customers wishing to send in their diamonds to White Pine for a full valuation “at no cost, fully insured”. The stones are graded using the GIA grading system.
Its site says it will buy stones for cash, offering money in 24 hours.
The company recently launched its North American site, and will follow up the launch with an online marketing campaign “in an effort to fuel growth”.
White Pine sells its recovered diamonds globally to a network of jewellery retailers, jewellery manufacturers, diamond manufacturers and diamond dealers.
White Pine is headquartered in New York, and says it trades several hundred thousand carats of recycled diamonds each year. It has offices in New York, Barcelona and Birmingham and with buyers across the United States, United Kingdom and Europe.
The company operates by buying recycled, polished diamonds of all sizes and grades, either loose or in second-hand diamond jewellery. It then re-manufactures stones that are chipped, damaged or poorly cut, distributing its diamonds in the US and Asia to a network of industry participants, including jewellery retailers, jewellery manufacturers, diamond manufacturers and diamond dealers.
As the company is selling second-hand stones their provenance will not always be clear, but it offers that is “follows the Kimberley Process and the DTC Best Practices Principles”.
It is also a member of the BJA and the National Pawnbrokers Association.